Lewis Coleman Named DreamWorks Animation President

Lewis Coleman, a DreamWorks Animation board member and former vice chairman and chief financial officer of Bank of America, has been named president of the DreamWorks Animation.

Mr. Coleman will report to DreamWorks Animation CEO Jeffrey Katzenberg. Together with COO Ann Daly, Coleman and Katzenberg will lead the company’s efforts as it continues to produce two computer generated animated movies per year and expands its business activities behind direct-to-video movies, a growing licensing business, Broadway musicals, and live entertainment. All executives who previously reported to the CEO will now report to Coleman.

In light of the company’s policy of maintaining an independent majority on its board, Mr. Coleman has stepped down as a director, as well as from his post as chairman of its Audit Committee. Karl von der Heyden, former vice chairman and CFO of PepsiCo and a recently elected DreamWorks Animation board member, has become Audit Committee chair. Coleman will likely stand for reelection as a director when there are a sufficient number of independent directors on the board to assure continuation of an independent majority.